🏦 Dimon Flips on Bitcoin

Vance Likes Bitcoin & Cuban Claims Bitcoin to Become Reserve Asset                                                                                                                                                                                                                                                                                                                                                                                                                 July 18, 2024 | [Read Online]( 🏦 Dimon Flips on Bitcoin Vance Likes Bitcoin & Cuban Claims Bitcoin to Become Reserve Asset [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Bitcoin%20Minimalist&body=%F0%9F%8F%A6%20Dimon%20Flips%20on%20Bitcoin%20%3A%20Vance%20Likes%20Bitcoin%20%26%20Cuban%20Claims%20Bitcoin%20to%20Become%20Reserve%20Asset%0A%0Ahttps%3A%2F%2Fbitcoinminimalist.com%2Fp%2Fdimon-flips-bitcoin) First time reading? I’m [Jordan](, and this is The Bitcoin Minimalist. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights. Today we’re covering: - Bitcoin as a global reserve asset, - Bitcoin adoption in inflation-hit countries, - JD Vance's pro-Bitcoin stance, - And everything else you need to know. —Jordan 20% off Bitbo’s Bitcoin TradingView Indicators with code MINIMALIST at checkout. [GET THE INDICATORS]( DIMON’S BITCOIN FLIP Dimon Changes Stance Amid Bitcoin Surge Dimon's Shift: [JPMorgan CEO Jamie Dimon, long a vocal critic of Bitcoin, has reportedly softened his stance, according to former President Donald Trump.]( In Trump’s Words: Dimon, who once labeled bitcoin a "fraud," now appears more open to the technology following a meeting with Trump and other business leaders. Trump says Dimon has “all of a sudden changed his tune” on Bitcoin. WHAT WE’RE WATCHING 🇩🇪[The German government quickly sold its Bitcoin holdings across five exchanges](. Experts claim this was done to maximize liquidity. After these coins were loaded onto exchanges it caused temporary downward pressure on Bitcoin prices. Prices began to recover once the German government exhausted its Bitcoin supply. 🗳️ [Trump picks JD Vance as VP, aiming to attract crypto voters.](Vance, the first candidate on a presidential ticket to own Bitcoin, is seen as a pro-Bitcoin advocate. The Trump campaign believes this move will mobilize the 17% of US adults who own cryptocurrency to support the Republican ticket. ⚖️ [Craig Wright admitted he is not Satoshi Nakamoto after a UK High Court ruling.](The court validated evidence from COPA and recommended a perjury investigation. Wright's assets were frozen to compensate for legal fees from a defamation case. 🇺🇸[Trump considers JPMorgan CEO Jamie Dimon, a Bitcoin critic, for US Treasury Secretary if elected.]( Trump’s stance on Bitcoin has softened, as he plans to speak at the Bitcoin Conference in Nashville from July 25-27. 💰 [The pro-Bitcoin Winklevoss twins each contributed $250,000 to America PAC.]( In total, American PAC raised $8.75 million from tech and venture capital executives supporting Trump's campaign. Elon Musk denied a reported $45 million monthly commitment to the PAC. 📊[Bitcoin ETFs have 4-8 times more impact on BTC prices than miners, per Glassnode.]( While miners' BTC holdings are around 705,000, ETFs hold 887,000 BTC. Glassnode claims that the influence of centralized exchanges and ETFs on BTC price movements significantly surpasses that of miners. 🔒 [Up to four missing words in a Bitcoin seed phrase can potentially be recovered through brute force.]( While full phrases of 12 or 24 words are highly secure, industry experts warn against relying on memory for missing words. Secure and accurate backups are essential for protecting crypto assets. BITCOIN’S GLOBAL ROLE Mark Cuban Speculates Bitcoin Could Become Global Reserve Asset Cuban's Insight: [Entrepreneur and investor Mark Cuban recently speculated that Bitcoin could become a global reserve asset.]( He bases this claim on the current state of geopolitical instability and inflationary pressures. He suggested that increased support for former President Trump from Silicon Valley might indicate a significant Bitcoin movement within Big Tech. Geopolitical Factors: Cuban highlighted that the United States' geopolitical role is being questioned and future tax cuts promised by Trump could worsen inflationary pressures. These factors combined could potentially drive Bitcoin prices higher. Fiat Currency Challenges: The continuous inflation of fiat currencies, including the US dollar, poses significant challenges. Former Speaker of the House Paul Ryan argued that stablecoins could help maintain dollar dominance amidst high debt obligations and competition from China's yuan. POLL Do you agree with Mark Cuban that Bitcoin could become a global reserve asset? [Strongly agree, it will replace gold/fiat on central bank balance sheets]( [Agreed]( [Neutral]( [Disagree, it will be more used by people than as a reserve]( [Strong disagree]( TUESDAY’S POLL RESULTS Why is Bitcoin's price up? German government done selling - 31.2% Trump assassination increased odds of being president- 50.0% Other - 18.8% Other - “Bitcoin friendly Trump & Vance” - Stephan Other - “#1 and #2 are the reasons” - Chris IN THE LOOP ⚡ [Bitso partners with Lightspark]( to bring faster, cheaper Bitcoin Lightning transactions to its 8 million users. This integration aims to improve transaction efficiency and cost-effectiveness for Bitso's retail and institutional clients across Latin America. 🇩🇪 The German government sold 49,858 Bitcoin from June 19 to July 12, 2024. [This sale, which net a total of $2.8 billion, was part of the Movie2k investigation](, with proceeds temporarily held by the Leipzig Regional Court until a final decision is made on their confiscation. 📊 Nate Silver joins Polymarket as an adviser after [the prediction market took $265 million in bets on the U.S. election](. Polymarket, which has seen over $400 million in bets this year, aims to diversify its prediction markets under Silver’s expertise in elections, sports, and more. 🗳️ Anthony Scaramucci criticizes Democrats for their lack of crypto legislation, calling it a "horrific mistake" affecting their election prospects. [While he agrees with Trump's pro-crypto stance, Scaramucci won't vote for him](, citing concerns about Trump's impact on democracy and intellectual curiosity. VIDEO Check out this video from 2018! Marc Cuban says Bitcoin is worth less than a baseball card. [Things can change fast](, once people really understand Bitcoin! [Watch here →]( CHARTS & DATA SNEAK PEAK - Bitbo will soon be launching a new price projection model for Bitcoin, called stock to income. Be sure to join the “New Bitbo Charts” list below to get alerted when this chart launches. Right now, stock to income predicts a price of $57,000 or so for Bitcoin, while the actual price is around $64,000. 126 - The [number of days]( since Bitcoin last hit an all-time high. New Bitbo Charts Never miss Bitbo's newest charts. Get an email when we post new charts. [Subscribe]( MORE FROM OUR COMPANY The Bitcoin Minimalist is run by Bitbo. Browse our most popular pages across our sites: [Bitbo Dashboard](: View live price action, monitor on-chain data, and track key economic indicators - all for free. [Bitbo Charts:](Useful Bitcoin charts, featuring on-chain metrics and other Bitcoin analysis. [Bitcoin Tools:]( An exclusive list of the best Bitcoin tools. Carefully vetted and maintained by Bitbo. [Bitbo Store:]( Shirts, hats, hoodies, mugs, and other merch for Bitcoiners. [Halving Clock:](Track the countdown to the Bitcoin halving with our Bitcoin halving clock. 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